"The purchaser for Hummer is going through the approval processes in China," Henderson said. "We're cooperating with them. The purchaser is professional, well-advised and has done a huge amount of work. We're supporting the process. Our expectation is that this deal can get done."
Sichuan-based Tengzhong, a Chinese firm that builds heavy-duty commercial vehicles, is in the process of buying Hummer. Earlier, in a live Web chat on the GM FastLane blog in early June, Henderson said Tengzhong "offered the best overall alternative, and we did not have (a) broad portfolio of other buyers."
Henderson on Friday reported that "negotiations continue with Magna, RHJI and Beijing Automotive."
"[We] don't have anything to announce today," he said regarding Opel. "We're working in Europe to bring this to closure."
Inside Line says: No final chapter yet on the fate of brands such as Hummer that GM is still trying to unload. — Anita Lienert, Correspondent
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windfallangel says:
10:48 PM, 09/19/2010
The Hummer is a very unique SUV, truly a one of a kind automobile it has been used successfully in conquering all types of terrain from water bogged swamps to foreign sands in way off places and foreign lands not many SUV can carry those bragging rights. Hummer is a SUV that can carry a convoy across any terrain or your kids safely to school. It would be a sad lost to see such a great automobile lost for lack of funds to carry on the brand.I hope maybe it's enployee's or the Army might purchase it since it is their SUV of record.It 's bad gas mileage could be corrected which is it's only bad vice clean diesel would fix that . However I do hope they keep trying to find new owners & owner(s) can find ways to bring the cost(s) down lower were more of us can afford the unique one of a kind automobile .This a SUV with a little work could be a big seller.Everyone looks and wishes they had one.Perhaps with diesel and a lower sticker price it would beat Jeep! I think it would !